Issue #1 (Volume 1 2017)

The article studies one of the areas of the world globalization processes – formation, interaction and regulation of financial flows of world reinsurers. Mathematical formalization of the relationships of countries’ reinsurance flows is proposed to be built on the basis of cognitive maps and correlation analysis. Identification of relevant areas of global reinsurers’ development is conducted on the basis of indicators of consonances of mutual influence, interaction and centralization.

After being called ‘Hollywood of the East’, Egypt’s soft power has witnessed a decline from the start of the years 2000s; due to 9/11/2001 and its aftermath, until it reached its lowest point since the Arab Spring in 2011. The deterioration hit its media sector, arts industry, sports and diplomacy. However, since 2014 a revival for one of its soft power capabilities happened. Its diplomacy. Diplomacy is on the rise and has some potential to restore Egypt’s status as ‘an active’ regional player. To illustrate that Egypt is now a temporary Security Council member in the United Nations for two years. This status earned after a lot of recommendation from Arab, African and Islamic blocks in the Security Council. To win this seat it required a lot of diplomatic efforts and lobbying which were successful at the end after being absent from non-permanent membership in UNSC since 1997. The first signs of decline in its diplomatic power started in 2006. This was due to USA’s neglect for Egypt and putting a lot of pressure on it from Bush junior’s Administration to comply with US values and interests in the region. This has been accentuated in the Bush Doctrine and was a natural outcome of September 11 attacks in 2001. The argument in here is that despite the decline in Egyptian status on all levels, and its soft power among them, due to turmoil resulting from the Arab Spring yet Egypt still has potential for revival and gaining a leading role due to its soft power. This study will be based on qualitative analysis to prove the argument. A diplomat and an academic have been interviewed to further illustrate the ideas expressed in this article. There are a number of issues that show success in Egypt’s diplomacy to prove this argument since 2014.

The potential contribution of social enterprises to work integration, job creation, and service delivery remains largely unrealized both in Poland and Ukraine. This paper focuses on the analysis of the role of social economy and social enterprises sector in providing employment opportunities and wide range of services for group of interest. One of the major obstacles to the discussion and study of the topic is the lack of a clear and concise definition. It is requiring investigating evolution of social enterprise as a concept and as a sector of the Polish and Ukrainian economies. Institutional aspects and legal frameworks are considered in order to define the appropriate eco-system for social enterprises sector support and fostering. Attention was also paid to frame of the policy for social enterprises support and ongoing decentralization of public authority that is allowing to clarify what level of authority should be responsible for concrete policy measures elaborating.

The article is dedicated to the development of services and conditions of cooperation directed to insurance in the premium circle of clients under globalization. The circle of premium customers in addition to their requirements was described. Extended types of insurance are disposed in the article in order to develop the relationship between customer and insurer for most efficient partnership. The main reasons which caused the low level of insurance market development in Ukraine were proposed both with theoretical variety of their decisions. Proposals about methodical necessity of separating life and non-life insurance companies in the domestic market are disposed due to recommendations of the strategical development of insurance company. Methodological approach to the customer attraction procedure is represented for insurance sales management improvement.

In many countries International Financial Reporting Standards (IFRS) have become part of the domestic law or common practice. Ukraine has also taken the first steps to the use of IFRS taking into account its national peculiarities. However, problems occur in the adaptation of international standards, which need to be solved. The proposed article is devoted to the research of specific problems arising during the implementation of IFRS in Ukraine. The author substantiates the expediency of implementing International Financial Reporting Standards in Ukraine, studies the prospects of using international standards in the national accounting practices and defines the principle of transformation as a priority. It determines the stages of IFRS implementation in Ukraine and the problems that arise on each of these stages. As a result, the study highlights the shortcomings of the national accounting system’s reform and ways of optimizing the process of IFRS implementation in Ukraine.